Abu Dhabi Securities exchange (ADX) and the Tel Aviv Stock Exchange (TASE) signed a memorandum of understanding on Wednesday, the ADX and TASE announced in a joint statement.
This is the first time an Arab exchange has entered into a commercial relationship with the Zionist entity, according to the statement.
The MOU aims to “improve communication between the exchanges and contribute to the growth of the capital markets in Israel and the United Arab Emirates,” the statement said.
Chairman of the ADX H.E. Mohamed Ali Al Shorafa Al Hammadi, and TASE Chairman Amnon Neubach signed the MOU at a virtual ceremony, the Jerusalem Post reported.
Al Hammadi called the MOU “evidence of our commitment to drive value in the region through trade and commerce.”
CEO of TASE, Ittai Ben Zeev called the MOU “remarkable” and said that its signing is “an important event and a testament to the opportunity that Israel’s capital markets represent for international investors seeking Israeli technology and high growth companies.”
Source: Israeli media